Sunpin Solar Closes Tax Equity Financing with Morgan Stanley Renewables Inc. for 98MWdc Solar Project in California
Irvine, CA (December 29, 2020)
California-based developer Sunpin Holdings, LLC (“Sunpin”) announced today the closing of a tax equity financing with Morgan Stanley Renewables Inc. The investment is being used to finance the 98 MWdc Titan Solar 1 solar facility located in Imperial County, California that achieved Commercial Operation in mid-December 2020.
“This financing enables Sunpin to efficiently provide clean energy to 34,000 customers in Southern California,” said Kelly Lloyd, CFO of Sunpin. “We would like to thank the Morgan Stanley Team for the successful closing of this milestone tax equity investment and for their trust in Sunpin.”
“We are proud to partner with Sunpin as we continue to diversify our investments in clean, renewable energy sources across the U.S.” said Jorge Iragorri, Managing Director at Morgan Stanley.
About Sunpin Holdings, LLC:
Sunpin, established in 2012, is a leading owner-operator and developer of utility scale solar projects across the United States. Headquartered in Irvine, California, Sunpin has regional offices in Illinois, Maryland, Massachusetts, New York, Ohio, Pennsylvania, and Texas. Sunpin has more than 1GWp of solar projects under development and more than 200 MWp in operation across the United States. For more information about Sunpin, please visit www.sunpinsolar.us.
About Morgan Stanley:
Morgan Stanley is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in 41 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.